Leeward Investments LLC MA Sells 48,157 Shares of MGIC Investment Co. (NYSE:MTG)

Leeward Investments LLC MA trimmed its stake in MGIC Investment Co. (NYSE:MTG) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 647,808 shares of the insurance provider’s stock after selling 48,157 shares during the quarter. Leeward Investments LLC MA owned 0.26% of MGIC Investment worth $15,360,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Allianz Asset Management GmbH boosted its holdings in MGIC Investment by 8.2% in the fourth quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider’s stock worth $130,289,000 after acquiring an additional 415,586 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in MGIC Investment by 11.6% in the fourth quarter. Handelsbanken Fonder AB now owns 67,482 shares of the insurance provider’s stock worth $1,600,000 after acquiring an additional 7,000 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of MGIC Investment by 25.8% during the fourth quarter. New York State Common Retirement Fund now owns 360,028 shares of the insurance provider’s stock valued at $8,536,000 after purchasing an additional 73,837 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 918 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of MGIC Investment by 2.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 85,436 shares of the insurance provider’s stock valued at $2,026,000 after purchasing an additional 2,298 shares in the last quarter. 95.58% of the stock is owned by institutional investors.

MGIC Investment Stock Down 1.9 %

MTG stock opened at $23.97 on Friday. MGIC Investment Co. has a fifty-two week low of $18.98 and a fifty-two week high of $26.56. The business’s 50-day moving average is $24.34 and its two-hundred day moving average is $24.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 8.26 and a beta of 1.29.

MGIC Investment (NYSE:MTG) last posted its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. As a group, analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Tuesday, February 18th. MGIC Investment’s payout ratio is 17.93%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MTG shares. Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and lowered their price target for the company from $26.00 to $25.00 in a report on Monday, December 9th. Royal Bank of Canada lowered their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Barclays upped their price target on MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods lowered their price target on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. Finally, Compass Point reaffirmed a “neutral” rating and set a $27.00 price target (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.75.

Insiders Place Their Bets

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the completion of the sale, the chief accounting officer now owns 75,070 shares in the company, valued at $1,842,968.50. This represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.05% of the company’s stock.

MGIC Investment Company Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.